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Spring is a peak time for selling houses. The table below contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes in a certain city. Selling Price Baths Sq Ft Beds Selling Price Baths Sq Ft Beds 160,000 1.5 1,766 3 295,000 2.5 1,860 3 170,000 2 1,768 325,000 2 2,056 4 178,000 1 1,219 W 325,000 3.5 2,776 4 182,500 1 1,558 2 328,400 2 1,408 3 195,100 1.5 1,125 331,000 1.5 1,972 3 212,500 2 1,196 2 344,500 2.5 1,736 3 245,900 2 2,128 365,000 2.5 1,990 4 250,000 3 1,280 385,000 2.5 3,640 4 255,000 2 1,596 395,000 2.5 1,908 4 258,000 2.5 2,374 4 399,000 2 2,108 3 267,000 3.5 2,439 430,000 2 2,462 4 268,000 2 1,470 4 430,000 2 2,615 4 275,000 2 1,688 4 454,000 3.5 3,700 4(a) Develop scatter plots of selling price versus number of bathrooms. 500 000 500 000 450 000 - 450 000 400 000 400 000 350 000 350 000 . ..0 . . . . 300 000 300 000 - Selling Price Selling Price 250 000 250 000 .. 200 000 - 200 000 - 150 000 150 000 - 100 000 100 000 50 000 50 000 - 0 0.5 1.5 2. 2.5 3. 3.5 0. 0.5 1. 1.5 2. 2.5 3. 3.5 O Number of Bathrooms Number of Bathrooms 500 000 - 500 000 450 000 450 000 - 400 000 - 400 000 - .. 350 000 350 000 - 300 000 - 300 000 . . . Selling Price Selling Price 250 000 - 250 000 - .. . . 200 000 200 000 - 150 000 150 000 - 100 000 - 100 000 - 50 000- 50 000 - 0.5 1 . 1.5 2. 2.5 3. 3.5 0.5 1. 1.5 2. 2.5 3. 3.5 O Number of Bathrooms Number of Bathrooms iWhat is the relationship between the selling price of a house and the number of bathrooms in it? Q As the number of bathrooms increases, the selling price increases. 0 As the number of bathrooms increases, the selling price decreases. Develop a scatter plot of selling price versus square footage. 500000 500000 450000 450000 400000 400000 350000 350000 d1 d] E 250000 E 250000 ' 200000 ' 200000 $ 3 150000 150000 100000 100000 50000 50000 D D 0 500 1000 1500 2000 2500 3000 3500 4000 0 500 1000 1500 2000 2500 3000 3500 4000 0 Square Feet = Square Feet 6) 500000 500000 450000 0 450000 0 o 0 o 0 400000 Q. I . 400000 .' I 350000 . 350000 3 O. Q 8 J E 300000 . E 300000 .0 O E 250000 ' o I . E 250000 0' 'w 200000 . '0, 200000 .' m . 0 g m ' 150000 ' 150000 ' 100000 100000 0 500 1000 1500 2000 2500 3000 3500 4000 0 500 1000 1500 2000 2500 3000 3500 4000 0 Square Feet 0 Square Feet (D What is the relationship between the selling price of a house and its square footage? 0 As the square footage of the house increases, the selling price increases. 0 As the square footage of the house increases, the selling price decreases. Develop a scatter plot of selling price versus number of bedrooms. 500000 500000 450000 450000 0 o 0 400000 400000 . 350000 350000 3 ) 0 E 300000 E 300000 . n. n. 0 2 250000 2 250000 . % 200000 % 200000 m 0': 150000 150000 100000 100000 50000 50000 0 0 0. 0.5 1. 1.5 2. 25 3. 3.5 4. 4.5 0. 0.5 1. 1.5 2. 25 3. 3.5 4. 4.5 0 Number of Bedrooms 6) 0 Number of Bedrooms 500000 500000 450000 0 450000 0 o 0 400000 I . 400000 0 . 350000 5 350000 . ' a: O a: O E 300000 . E 300000 . m 3 g m ' E: 250000 0 E: 250000 ' E E 0 3 200000 . ' 3 200000 . ' 150000 150000 100000 100000 0. 0.5 1. 1.5 2. 25 3. 3.5 4. 4.5 0. 0.5 1. 1.5 2. 15 3. 3.5 4. 4.5 0 Number of Bedrooms (9 0 Number of Bedrooms What is the relationship between the selling price of a house and the number of bedrooms in it? 0 As the number of bedrooms increases, the selling price increases. 0 As the number of bedrooms increases, the selling price decreases. (b) (C) (d) Develop an estimated regression equation that can be used to predict the selling price given the three independent variables (number of baths, square footage, and number of bedrooms). (Round your numerical values to two decimal places. Let X1 represent the number of baths, X2 represent the square footage, x3 represent the number of bedrooms, and y represent the selling price.) )7: It is argued that we do not need both number of baths and number of bedrooms. Develop an estimated regression equation that can be used to predict selling price given square footage and the number of bedrooms. (Round your numerical values to two decimal places. Let X1 represent the square footage, x2 represent the number of bedrooms, and y represent the selling price.) )7: Suppose your house has three bedrooms and is 2,850 square feet. What is the predicted selling price (in $) using the model developed in part (c). (Round your answer to the nearest cent.) $:l